Why is Ethereum actually the only cryptocurrency worth GPU mining? - page 7.

Unacceptable

legendary

Activity: 2212

Merit: 1001

I failed to mention,I bought mobo's,RAM,CPU's way back in 2011 to mine BTC with GPU's,I still have 6 PCs left from those days.

All was ROI'd way back then,just put em the closet for a rainy day Wink

Guess what...it's raining Cheesy

That was about 2 years ago I put em up,they mined alts for abit after BTC went ASIC.

I sold my 5870's,6950's & bought a few 380's,gonna get another 1 or 2 very soon Cool

BTW,DO NOT BUY GPU's ON EBAY.Just get new ones,the chance you take on getting a faulty GPU isn't worth it............I got a few in a row & I'll buy new from now on Sad

acaciosc

full member

Activity: 325

Merit: 100

Quote from: limbaugh on May 22, 2016, 04:19:47 PM

Quote from: Unacceptable on May 22, 2016, 04:12:54 PM

At least GPU's "store" their value in resale Cool

At least until the new gen are released in a few months. Then the resale plummets. Too risky.

Nah, GPUs aren't produced with all that much periodicity and don't lose all that much value. For example, GeForce GTX 970 was produced in September 2014, costing ~$377.60. Now, almost one and a half years later, it costs... ~$354.99.

antantti

legendary

Activity: 1176

Merit: 1015

Quote from: limbaugh on May 22, 2016, 05:25:59 PM

Quote from: antantti on May 22, 2016, 05:20:26 PM

Buy only used cards that are still under warranty only with the profits you already gained from mining. Win-win.

GPU warranties don't transfer. But thanks for the advice anyway.

Where I live they do.

adaseb

legendary

Activity: 3808

Merit: 1723

Quote from: limbaugh on May 22, 2016, 05:25:59 PM

Quote from: antantti on May 22, 2016, 05:20:26 PM

Quote from: limbaugh on May 22, 2016, 05:06:01 PM

Quote from: catlove on May 22, 2016, 05:02:34 PM

I had most of the gear and bought a bunch of video cards a month ago, when I started it estimated I would pay my cards off in a month, now it says three. It's a fun hobby but at the rate difficulty is increasing its no big money maker.

Its a mistake newcomers continue to make. Trying to get theirs but it already gone. Even after warnings from the community veterans.

Buy coins not gear.

Buy only used cards that are still under warranty only with the profits you already gained from mining. Win-win.

GPU warranties don't transfer. But thanks for the advice anyway.

They do with some manufacteurs.

limbaugh

legendary

Activity: 1311

Merit: 1000

Quote from: antantti on May 22, 2016, 05:20:26 PM

Quote from: limbaugh on May 22, 2016, 05:06:01 PM

Quote from: catlove on May 22, 2016, 05:02:34 PM

I had most of the gear and bought a bunch of video cards a month ago, when I started it estimated I would pay my cards off in a month, now it says three. It's a fun hobby but at the rate difficulty is increasing its no big money maker.

Its a mistake newcomers continue to make. Trying to get theirs but it already gone. Even after warnings from the community veterans.

Buy coins not gear.

Buy only used cards that are still under warranty only with the profits you already gained from mining. Win-win.

GPU warranties don't transfer. But thanks for the advice anyway.

antantti

legendary

Activity: 1176

Merit: 1015

Quote from: limbaugh on May 22, 2016, 05:06:01 PM

Quote from: catlove on May 22, 2016, 05:02:34 PM

I had most of the gear and bought a bunch of video cards a month ago, when I started it estimated I would pay my cards off in a month, now it says three. It's a fun hobby but at the rate difficulty is increasing its no big money maker.

Its a mistake newcomers continue to make. Trying to get theirs but it already gone. Even after warnings from the community veterans.

Buy coins not gear.

Buy only used cards that are still under warranty only with the profits you already gained from mining. Win-win.

acaciosc

full member

Activity: 325

Merit: 100

Quote from: Unacceptable on May 22, 2016, 04:12:54 PM

Quote from: acaciosc on May 22, 2016, 03:52:28 PM

Quote from: Amph on May 22, 2016, 03:33:52 PM

everyone here is talking like the mining will die after ethereum, there is nothing more wrong

we will talk about another more profitable coin in 1-2 years, guaranteed...

How can you be so sure?

You can't.....last big profit coin to GPU mine was well over a year ago.It just appears to be a "cycle".

I read up on quite a few altcoins (over 150) over the past several years & thought a few had it in them to go big,but nope......not sure why they didn't.....

Eth is a fluke that actually may move up past or equal to BTC,whoda thunk?? Cheesy

At least GPU's "store" their value in resale Cool

Exactly: I can't. Since Ethereum Blockchain is being used by the huge IBM and the almost omnipresent Microsoft, I also expect it to achieve a price at least as big as Bitcoin. Wink

Yes, with a GPU you can sell it for a vast market, unlike an ASIC - the own meaning of this abbreviation points the obviousness, Application Specific Integrated Circuits. Cheesy

adaseb

legendary

Activity: 3808

Merit: 1723

Quote from: acaciosc on May 22, 2016, 05:03:57 PM

Quote from: adaseb on May 22, 2016, 04:10:31 PM

Its sound like you want a guaranteed investment and its not the way it works.

Its like the stock market, investment is always risky and you can lose everything.

Right now mining ETH is like free money, and who doesn't want free money. Opportunities like this are always short lived.

This. But the simple fact of having to turn on mining rigs to run for 24 hours every single day is a red light to me. I mean... burned rigs are not so unusual. I'm not necessarily expecting a "get rich fast and free" scheme, but investing in equipments that theoretically can be very lucrative - or a nightmare - if you are disposed (and also able, of course) to discard a big amount of money, which could be better used for some important thing. So yes, I'm expecting a "guaranteed investment" (or at least close to this scenario). Even because I already got screwed in the cryptocurrency world when I went too far by investing in cloud mining. Yeap, that's a dumb thing to do, I know. I learned it the hard way.

I know that ETH is right now good to go. But that's it. The only option actually is Ethereum. Difficulty keeps rising astoundingly fast, so I expect it won't take so much time for it to stop being profitable. At least not for the average Joe, who needs to pay his electric bill, internet provider, etc..

ETH algo uses very little power compared to Scrypt/SHA256, it won't burn out your GPU, don't worry.

limbaugh

legendary

Activity: 1311

Merit: 1000

Quote from: catlove on May 22, 2016, 05:02:34 PM

I had most of the gear and bought a bunch of video cards a month ago, when I started it estimated I would pay my cards off in a month, now it says three. It's a fun hobby but at the rate difficulty is increasing its no big money maker.

Funny you would have been up 50% if you had just bought coins.

Its a mistake newcomers continue to make. Trying to get theirs but it already gone. Even after warnings from the community veterans.

Buy coins not gear.

acaciosc

full member

Activity: 325

Merit: 100

Quote from: adaseb on May 22, 2016, 04:10:31 PM

Its sound like you want a guaranteed investment and its not the way it works.

Its like the stock market, investment is always risky and you can lose everything.

Right now mining ETH is like free money, and who doesn't want free money. Opportunities like this are always short lived.

This. But the simple fact of having to turn on mining rigs to run for 24 hours every single day is a red light to me. I mean... burned rigs are not so unusual. I'm not necessarily expecting a "get rich fast and free" scheme, but investing in equipments that theoretically can be very lucrative - or a nightmare - if you are disposed (and also able, of course) to discard a big amount of money, which could be better used for some important thing. So yes, I'm expecting a "guaranteed investment" (or at least close to this scenario). Even because I already got screwed in the cryptocurrency world when I went too far by investing in cloud mining. Yeap, that's a dumb thing to do, I know. I learned it the hard way.

I know that ETH is right now good to go. But that's it. The only option actually is Ethereum. Difficulty keeps rising astoundingly fast, so I expect it won't take so much time for it to stop being profitable. At least not for the average Joe, who needs to pay his electric bill, internet provider, etc..

catlove

full member

Activity: 168

Merit: 100

I had most of the gear and bought a bunch of video cards a month ago, when I started it estimated I would pay my cards off in a month, now it says three. It's a fun hobby but at the rate difficulty is increasing its no big money maker.

adaseb

legendary

Activity: 3808

Merit: 1723

Even with new GPU generations out the value does't plummet. Its still worth close to 50% of what you paid.

antantti

legendary

Activity: 1176

Merit: 1015

Quote from: Unacceptable on May 22, 2016, 04:45:13 PM

Quote from: antantti on May 22, 2016, 04:34:51 PM

Quote from: limbaugh on May 22, 2016, 04:19:47 PM

Quote from: Unacceptable on May 22, 2016, 04:12:54 PM

At least GPU's "store" their value in resale Cool

At least until the new gen are released in a few months. Then the resale plummets. Too risky.

What was the last GPU you owned?

Well,my 7970 was bought in 2012 for $325,still worth $100-150 today,after making over $1200 each in BTC/Doge/FTC/ETH Cool

6950's did ok,made about $600+ each & resold for $50 Cool

Soooo,what's this about resale value Huh

Doesn't look like plummeting to me (smile). I have some 7970's I have been trying to sell but it looks like I can only dream about prices above 100...

Unacceptable

legendary

Activity: 2212

Merit: 1001

Quote from: antantti on May 22, 2016, 04:34:51 PM

Quote from: limbaugh on May 22, 2016, 04:19:47 PM

Quote from: Unacceptable on May 22, 2016, 04:12:54 PM

At least GPU's "store" their value in resale Cool

At least until the new gen are released in a few months. Then the resale plummets. Too risky.

What was the last GPU you owned?

Well,my 7970 was bought in 2012 for $325,still worth $100-150 today,after making over $1200 in BTC/Doge/FTC/ETH Cool

6950's did ok,made about $600+ each & resold for $50 Cool

Soooo,what's this about resale value Huh

limbaugh

legendary

Activity: 1311

Merit: 1000

Quote from: antantti on May 22, 2016, 04:34:51 PM

What was the last GPU you owned?

Got a basement full of 280x and 7970's

antantti

legendary

Activity: 1176

Merit: 1015

Quote from: limbaugh on May 22, 2016, 04:19:47 PM

Quote from: Unacceptable on May 22, 2016, 04:12:54 PM

At least GPU's "store" their value in resale Cool

At least until the new gen are released in a few months. Then the resale plummets. Too risky.

What was the last GPU you owned?

limbaugh

legendary

Activity: 1311

Merit: 1000

Quote from: Kray on May 22, 2016, 04:20:49 PM

it's still profitable with R9 280 until three month from now

Let's revisit this post after the DAO sale ends.

Kray

hero member

Activity: 658

Merit: 500

Ethereum still worth because

1. Coin price
2. Difficulty

it's still profitable with R9 280 until three month from now

limbaugh

legendary

Activity: 1311

Merit: 1000

Quote from: Unacceptable on May 22, 2016, 04:12:54 PM

At least GPU's "store" their value in resale Cool

At least until the new gen are released in a few months. Then the resale plummets. Too risky.

Unacceptable

legendary

Activity: 2212

Merit: 1001

Quote from: acaciosc on May 22, 2016, 03:52:28 PM

Quote from: Amph on May 22, 2016, 03:33:52 PM

everyone here is talking like the mining will die after ethereum, there is nothing more wrong

we will talk about another more profitable coin in 1-2 years, guaranteed...

How can you be so sure?

You can't.....last big profit coin to GPU mine was well over a year ago.It just appears to be a "cycle".

I read up on quite a few altcoins (over 150) over the past several years & thought a few had it in them to go big,but nope......not sure why they didn't.....

Eth is a fluke that actually may move up past or equal to BTC,whoda thunk?? Cheesy

At least GPU's "store" their value in resale Cool

Topic: Why is Ethereum actually the only cryptocurrency worth GPU mining? - page 7. (Read 12084 times)